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Deposit Insurance, Bank Risk Managem...
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He, Rui.
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Deposit Insurance, Bank Risk Management and Credit Source Choices.
紀錄類型:
書目-電子資源 : Monograph/item
正題名/作者:
Deposit Insurance, Bank Risk Management and Credit Source Choices./
作者:
He, Rui.
出版者:
Ann Arbor : ProQuest Dissertations & Theses, : 2019,
面頁冊數:
85 p.
附註:
Source: Dissertations Abstracts International, Volume: 81-10, Section: A.
Contained By:
Dissertations Abstracts International81-10A.
電子資源:
https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=27786779
ISBN:
9781392383926
Deposit Insurance, Bank Risk Management and Credit Source Choices.
He, Rui.
Deposit Insurance, Bank Risk Management and Credit Source Choices.
- Ann Arbor : ProQuest Dissertations & Theses, 2019 - 85 p.
Source: Dissertations Abstracts International, Volume: 81-10, Section: A.
Thesis (Ph.D.)--University of Southern California, 2019.
This item must not be sold to any third party vendors.
This paper explored two moral hazard phenomena which may lead to bank run and financial crisis. These phenomena are caused by the limited liability of banks on their debts. The first phenomenon is the overly high leverages on bank balance sheets due to the fact that explicit or implicit deposit insurance makes debt cheaper for banks. With deposit insurance, banks take less equity and more debt. Also, they make more investments than the socially optimal levels. The second moral hazard phenomena is excessive risk taking in the choices of investment projects. It turns out that, even monitored by the debtors with partial information, banks still tend to make investment riskier than what is good for the society. Volcker Rule and other mandatory risk management requirements are well justified by this finding. Further, discount window stigma associated with secondary credit line is modeled by a debt-rollover game with credit source differentiation mechanism. The result shows that, the division between primary and secondary credit lines introduced by Regulation A strictly improves the social welfare.
ISBN: 9781392383926Subjects--Index Terms:
Moral hazard phenomena
Deposit Insurance, Bank Risk Management and Credit Source Choices.
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This paper explored two moral hazard phenomena which may lead to bank run and financial crisis. These phenomena are caused by the limited liability of banks on their debts. The first phenomenon is the overly high leverages on bank balance sheets due to the fact that explicit or implicit deposit insurance makes debt cheaper for banks. With deposit insurance, banks take less equity and more debt. Also, they make more investments than the socially optimal levels. The second moral hazard phenomena is excessive risk taking in the choices of investment projects. It turns out that, even monitored by the debtors with partial information, banks still tend to make investment riskier than what is good for the society. Volcker Rule and other mandatory risk management requirements are well justified by this finding. Further, discount window stigma associated with secondary credit line is modeled by a debt-rollover game with credit source differentiation mechanism. The result shows that, the division between primary and secondary credit lines introduced by Regulation A strictly improves the social welfare.
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